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John Pierpont Morgan is considered one of the founding fathers of the modern United States economy He was an industrial genius that is accredited with the founding of many companies including General Electric and ATT However Pierpont is looked upon as a saint and demon the same He received a honorary degree from Harvard university that read Public citizen patron of literature and art prince among merchants who by his skill wisdom and courage has twice in times of stress repelled a national danger of financial panic But Robert LaFollette the Wisconsin progressive saw him as a beefy red-faced thick-necked financial bully drunk with wealth and power Despite conflicting opinion on his persona his influence and character shaped the business world more so than any other person at the turn of the century Morgan was a banker railroad czar industrialist financier philanthropist yachtsman and ladies man He was king to a handful of millionaire barons who controlled the countrys wealth in an era of little government regulation The wealth of the Morgan family did not begin with Pierpont but with his grandfather Joseph Morgan Joseph prospered as a hotelkeeper in Hartford Connecticut He helped to organize a canal company steamboat lines and the new railroad that connected Hartford with Springfield Finally he became one of the founders of the Aetna Fire Insurance Company Josephs first son was Junius Spencer Morgan also destined for the life of a businessman He spent a number of years as a dry-goods merchant before moving to Boston and into the foreign trade business Junius was invited to join the firm of George Peabody Co in 1854 In 1864 Junius took over the Peabody Company and changed the name to JS Morgan Co John Pierpont Morgan was born on April 17 1837 in Hartford Connecticut He was nicknamed Pip by his childhood friends The family prospered in Hartford until Junius moved the family to Boston where
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